NEW YORK (TheStreet) -- Facebook (FB) has a "massive reach" and CEO Mark Zuckerberg will probably want to "step into this video space in a meaningful way" in the future, Liberty Media (LMCA) Chairman John Malone predicted on CNBC's "Squawk on the Street" on Thursday morning.

Facebook already benefits "so much" from content on its website from other businesses for free, noted CNBC's David Faber.

"Best model ever created, right?" Malone said with a smile.

But when Facebook's growth starts to decelerate, then "what's Zuckerberg's next thing?" Malone asked. "My guess is he starts looking at video more seriously."

Facebook doesn't need to produce its own content, but it may "make sense" for it to own content because the "game" has gone from being domestic to being global, he claimed. "Anytime you get into software, whether it's entertainment or computer, it's all scale. It's all about scale. The guy who has the biggest scale."

Shares of Facebook were lower in early afternoon trading on Thursday.

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TheStreet Ratings team rates Facebook as a Buy with a ratings score of A-. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that the team rates.